Mr. Chairman, thank you for holding today's hearing. We are honored today with two distinguished witnesses, who will be very helpful to our Committee as we sort out what changes we should consider to our accounting and financial reporting rules.
As we move forward in our investigation of issues related to the recent collapse of Enron and accounting standards generally, we must remain mindful that we live in a global economy. I am pleased that you, Mr. Chairman, have had the foresight to include an international component in our deliberations.
America deserves a full investigation of recent events that have shaken our markets, and further economic recovery depends on maintaining the confidence of investors. Our economy has flourished under the democratization of our capital markets, and we must take every possible measure to ensure that Americans have the information they need to continue investing in our nation's businesses.
I look forward to today's testimony, and thank the witnesses for their willingness to appear before our Committee. In particular, I would like to thank Chairman Volcker for his many years of service to America.
Our nation's strength is due in no small part to the talent and determination of our citizens who are willing to serve in the public sector. Mr. Volcker provided valuable leadership at the helm of the Federal Reserve during the 1980s, and has continued his leadership role in the area of accounting and finance.
Thank you, Mr. Chairman.